Tara Patel, Boeing, Airbus discussed on Financial Issues
The order was announced as the airlines parent company reported annual profit that beat analysts estimates adjusted operating profit advanced nine point five percent to three point two three billion euros. The company said for more we're joined by Bloomberg's deputy editor for European transport. Tara, Patel, Tara, great to have you with us. Let's just talk about the numbers. I we've seen the shares gaining in this session. I g giving a quite a lot to investors. It seems today positive results solid outlook and a special dividend despite quite a few headwinds. Yes. That's right. You know, one of the biggest head wins has been the price of fuel. It's also been in an increasingly competitive space in the European airline market. So I think these results are really being viewed very positively this morning with investors in London a real. Well, you know, the bigger news. I think is also this order it passed disorder to Boeing. It was really really hard fought battle between Boeing and Airbus to to get the. They sorta and Boeing came out a winner AG is ordering up to forty two seven seven seven for for listed and value of as much as nineteen billion dollars. Yeah. We got eighteen firm orders here for these triple sevens. And then additional options on other aircraft. Tara did we hear anything regarding Brexit? Of course, this is a major hurdle that too has to face up against there's been some question marks regarding the ownership as EU rules, essentially statement, if you as an airline wants to fly within the European Union you need to have more than fifty one percent ownership from from EU citizens. Yes. Yes. That's right. And you know, it's a little bit early to say what the absolute latest has. It's such a fast changing situation. I expected a little bit later to to give us an update on the on the Brexit situation. And how it sees the shareholding playing out Tara just to go back to the issue of I g ordering as many as forty two a Boeing triple seven's is this a real blow to Airbus just put that in context for us. It is a blow. I mean, eight eight in the industry is such that every order every order that one of them loses is is a is a blow especially is probably painful for Airbus because Airbus's in the throw of turmoil. It's changing it CEO. It's intestine announced a few weeks ago that it was pulling officially the a three eighty the the biggest super-jumbo programs. So that is also also come into play terms of its portfolio. Thank you so much for joining us. Bloomberg's deputy editor for European transport. Tara Patel now coming up on Bloomberg daybreak Europe will be speaking next to Paul Donovan global chief economist.